General Money || Personal Finance || Stock Markets || Real Estate ||
Ask Inappropriate Questions Before You Offer:
- Analyze the market:
Before submitting an offer on a property, always make a phone call to the listing agent (i.e platform where you will list your property) to talk about the property and what the Seller is looking for in the way of an offer. Most of the conversation and questions are pretty obvious, however you can always include a few questions which you don’t really expect to be answered, but hey, you just never know. The fact is, you could be frequently amazed at the kind of information other agents willingly share about the property or their clients position. Honestly there really is a feeling of “fraternity” amongst agents and typically a real estate agent will provide way more information to another real estate agent than they would ever provide directly to a buyer or seller. To stand a good chance to be potential clinch a deal, anlayse the market & it’s dynamics.
2. Understand the real estate dynamics of your city:
To some degree this is justified because licensed real estate agents (at least theoretically) have a much greater understanding of the laws, risks, and “normal” problems that occur in a normal real estate transaction. They are therefore less likely to “do something stupid” with the information. The point is to ask as many questions as you can before you write your offer to buy. Do not be shy about the kind of questions you ask, just be smooth. The same is true on the Buyer’s side. Just in case you are a listing agent or a real estate agent – talk to the Buyer and ask the same questions about the buyer’s needs and expectations before you help your seller prepare a counter-offer.
Making a Counter Offer While Negotiating
– Article by Suman Adithya Rao (SEBI Certified Research Analyst, Management Graduate in Entrepreneurship & Small Business Management)
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